assembly Bill A10431

2017-2018 Legislative Session

Relates to establishing the empire state public bank

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 20, 2018 referred to banks

A10431 (ACTIVE) - Details

See Senate Version of this Bill:
S8428
Current Committee:
Assembly Banks
Law Section:
State Finance Law
Laws Affected:
Add Art 17 §§254 - 277, St Fin L
Versions Introduced in 2019-2020 Legislative Session:
A437, S1778

A10431 (ACTIVE) - Summary

Relates to establishing the empire state public bank to use the state's depository assets to generate additional benefit for the people and the economy of the state.

A10431 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  10431

                          I N  A S S E M B L Y

                             April 20, 2018
                               ___________

Introduced  by M. of A. STECK -- read once and referred to the Committee
  on Banks

AN ACT to amend the state finance law, in relation to  establishing  the
  empire  state  public  bank;  and  providing for the repeal of certain
  provisions upon expiration thereof

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The state finance law is amended by adding a new article 17
to read as follows:
                               ARTICLE 17
                        EMPIRE STATE PUBLIC BANK
SECTION 254. LEGISLATIVE INTENT.
        255. DEFINITIONS.
        256. CREATION.
        257. COMMISSION.
        258. TRANSITION BOARD.
        259. DEPOSIT OF PUBLIC FUNDS.
        260. INVESTMENT OF STATE MONEYS.
        261. INFRASTRUCTURE LOANS.
        262. STUDENT LOANS.
        263. BUSINESS, NON-PROFIT AND INDIVIDUAL LOANS.
        264. TREASURY AND BANKING SERVICES.
        265. MANAGEMENT.
        266. ADVISORY BOARD.
        267. FINANCIAL REGULATION.
        268. REPORTING REQUIREMENTS.
        269. ETHICAL REQUIREMENTS.
        270. FEES AND TAXES.
        271. BANK RECORDS.
        272. CAPITALIZATION.
        273. PUBLIC DEPOSITARY.
        274. APPLICATION OF THIS CHAPTER TO THE PRESIDENT.
        275. CASH AND DEMAND DEPOSITS AVAILABLE.
        276. PERMITTED INVESTMENTS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets